The new venture being prepared by STRATOSPHERE S.A. denominated Stratosphere Space Systems S.A. will be based in Guimarães with the main objective to bring to the Global Space market speciality payload products and small satellites with focus in atmosphere surveying and earth observation.
Guimarães, 14 March de 2023 – STRATOSPHERE S.A. (STS), a leading global provider of advanced Cyberphysical systems, is preparing the launch of a new venture, STRATOSPHERE SPACE SYSTEMS S.A. (STS-SPACE SYSTEMS) based in Guimarães as result of beyond state of art developments of the MIT-PORTUGAL Flagship Project – NEWSAT – The project is devoted to the development of the new generation of technologies for payload sensors for atmospheric analysis, advanced 3D printing technologies for small satellite manufacturing and comprehensive Digital Twins development for enhanced operation. The NEWSAT project is developed in cooperation with MIT and the Portuguese R&D Laboratories INEGI and INESCTEC. The new company will deploy and develop technology and products focused on the Global Space Markets.
According to the latest market reports, in 2021, the global space market was valued at $388.50 billion and is expected to reach $540.75 billion by 2026. The sector has expanded by an impressive 70% between 2010 and 2020. The space economy is expected to grow at a compound annual growth rate (CAGR) of 6.84% between 2022 and 2026. Analysts also predict that the space industry will reach $1 trillion in annual revenue by the year 2040, with launch costs lowered by 95%. As the cost of accessing space falls, opportunities for expansion and innovation will increase. The fastest growth is predicted to stem from new space applications and industries. Space innovation and exploration are becoming more important for countries around the world. The space economy is set to grow at above GDP growth rates and has become a strategic domain when it comes to national defense & security, climate change, and connectivity. Current space infrastructure enables new services and applications in areas such as energy, meteorology, telecom, aviation, maritime, insurance, transport, and urban development.
The satellite market makes up the largest slice of the space economy, at more than 70% and growing. Most satellite revenue stems from services such as television, and there is a growing expansion into broadband Internet and mobile connectivity. Satellites use is expected to accelerate in the near future, offering great accessibility to Internet services on a global level. Satellite imagery is also seeing strong gains, accounting for $2.6 billion of the space economy. This is forecast to increase to $17 billion in annual sales by 2040.
STRATOSPHERE (STS) has a unique combination of beyond state of art technology focused on the advanced analytics, Engineering and cyberphysical systems that provides an infrastructural approach to Space Applications. The company has a strong background on advanced multi-physics analysis was responsible for the base engineering of the Mars Sample Return (MSR) CTPS system.
Stratosphere S.A. Has a beyond state technology fully aligned with the major tech trends. The company developed over the last 10 years technology for SHM, WHM and IVHM, AFS and Small Satellites. Our technology is one of the most advanced frameworks in the Industry.
Stratosphere S.A. is a global provider of integrated health management solutions. The robustness and integration of its solutions are the pinnacle of SHM systems.
bizdev@stratosphere-tech.com
